A person who hasn’t made peace with his losses is likely to accept gambles that would be unacceptable to him otherwise.
Today’s quote is from Daniel Kahneman, Nobel laureate and author of the widely acclaimed book, Thinking Fast And Slow.
Kahneman is certainly the world’s most influential living psychologist. He pretty much created the field of behavioral economics and has revolutionized the field of cognitive and social psychology through his findings — the central message being that human reasoning is subject to a certain number of fallacies and systematic errors based on a long chain of inscrutable cause-and-effect.
So, if we want to be better decision makers, and so, better traders, we ought to be aware of the kind of biases we consistently fall into and seek workarounds.
Both courses are complete programs for change where I show you how to minimize biases, errors in judgement and decision, and eliminate stress. I also show you my tested method for achieving a predictable form of income from your trading business.
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